Case Study: How a Mobile Growth strategy doubled Astropay’s customer base in India

02 December

Online wallets have become part of our daily lives as they allow us to make transactions quickly and securely. That is the case of Astropay, an online wallet that towards the end of 2019 faced the challenge of expanding its user base in India with the aim of conquering more and more territories globally. At that time, after months of marketing work, they had 900 quality users in the country and their expansion began to be a difficult mission in an unknown market.

In trying to grow, the platform was receiving a large influx of users with fraudulent behavior, and because quality was a critical factor for the AstroPay team, this was not a viable way to grow. Users were to be acquired as long as they met certain quality factors.

Facing this challenge, AstroPay decided to add an ally such as Boomit to start developing a Mobile Growth strategy and achieve the exponential growth that such a product requires in a market the size of India.

Objectives and challenges

At the beginning of the project, we worked on a two-stage objective:

• Our first objective was to double their quality customer base in the first month.
• In the medium term, we set a target of attracting 15,000 new customers in the Indian market by the same year.

This is how we began to develop a tailor-made Growth Marketing strategy.

Mobile Growth Strategy

In order to meet these challenges and achieve the objectives set out we created a strategy based on 3 pillars:

1. Growth Hack: A proposal was made at the product level, taking advantage of a growth model based on referrals, which would allow expanding the user base from a “seed” of quality. Specific logics were designed for this strategy in order to avoid abusive behavior in the incentives associated with this type of promotion.
2. Growth Marketing: A plan based on digital advertising was implemented, which first built its foundations on Google Ads and Meta, and then began a process of diversification in different advertising channels of the programmatic ecosystem that would reduce the risk of audience saturation and cost increase.
3. Multi Point Attribution: A multi-point attribution approach was used to identify the points in the strategy that generated the best results and thus scale successful actions. For this we implemented the integration of an MMP that allowed us to start working on the basis of real-time data.

Results

The results of the strategy implemented soon became evident. In the first month, we surpassed our initial target by winning 1,100 new customers, exceeding initial expectations.

In addition, it was found that the user acquisition strategy was not only attracting new users, but was also increasing the value per existing user, doubling the LTV.

Throughout the year-long campaign, a total of 50,000 new users were recruited in the Indian market. The implementation of the referral codes drove exponential growth in the user base, thus fueling AstroPay’s growth cycle in a healthy way.

In summary, the combination of a comprehensive growth marketing approach, innovative product strategies and intelligent data analysis enabled AstroPay to not only meet, but exceed its expansion goals in the competitive Indian market.